Insider Selling: Snowflake (NYSE:SNOW) EVP Sells $646,400.00 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total transaction of $646,400.00. Following the completion of the sale, the executive vice president directly owned 397,879 shares of the company’s stock, valued at approximately $102,875,594.24. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christian Kleinerman also recently made the following trade(s):

• On Tuesday, June 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The stock was sold at an average price of $228.45, for a total transaction of $598,767.45.
• On Tuesday, June 16th, Christian Kleinerman sold 2,986 shares of Snowflake stock. The shares were sold at an average price of $240.00, for a total transaction of $716,640.00.
• On Tuesday, June 9th, Christian Kleinerman sold 2,729 shares of Snowflake stock. The shares were sold at an average price of $239.00, for a total transaction of $652,231.00.
• On Monday, June 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $272.00, for a total transaction of $2,720,000.00.
• On Thursday, May 28th, Christian Kleinerman sold 100 shares of Snowflake stock. The shares were sold at an average price of $236.77, for a total transaction of $23,677.00.
• On Thursday, May 28th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $236.77, for a total value of $1,183,850.00.

Snowflake Stock Down 0.5%

Shares of NYSE SNOW opened at $261.34 on Thursday. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The stock’s fifty day simple moving average is $209.87 and its two-hundred day simple moving average is $191.18. The stock has a market capitalization of $90.58 billion, a PE ratio of -74.24 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. As a group, analysts expect that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake is expanding in Europe, including a new French headquarters in Paris, which supports customer growth and deepens its international footprint. Snowflake Inc. (SNOW): A Top AI Stock on Wall Street’s Radar, Expanding in Europe
• Positive Sentiment: Recent coverage says Snowflake’s AI Data Cloud is gaining traction, with new products, customer wins, and partnerships supporting management’s growth targets. Snowflake’s AI Data Cloud Gains Traction: More Upside Ahead?
• Positive Sentiment: Analysts continue to highlight Snowflake as an AI beneficiary, with reports calling its valuation attractive relative to future growth potential. Snowflake (SNOW) Stock Could Be 12% Undervalued After Fresh AI Expansion News
• Neutral Sentiment: Snowflake is seeing more investor attention and trading activity, which can add momentum but does not by itself change fundamentals. Snowflake Inc. (SNOW) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Management and shareholders are also focusing on governance changes, with a nonbinding vote on majority voting drawing attention to board accountability. Snowflake (SNOW) Governance Vote Puts Its AI Valuation Story Under The Spotlight
• Negative Sentiment: Recent insider selling by an EVP and a director may create some caution, even though the sales were made under pre-arranged trading plans. Insider Selling: Snowflake (NYSE:SNOW) Director Sells 343 Shares

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in Snowflake during the fourth quarter worth $28,000. Greenline Wealth Management LLC purchased a new position in Snowflake in the fourth quarter valued at $29,000. GoalVest Advisory LLC increased its holdings in Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares in the last quarter. Basecamp Wealth Advisors LLC raised its position in shares of Snowflake by 140.5% in the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after acquiring an additional 118 shares during the period. Finally, Physician Wealth Advisors Inc. raised its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price objective on Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Morgan Stanley boosted their price target on Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Truist Financial increased their price objective on shares of Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Needham & Company LLC boosted their target price on shares of Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Finally, Piper Sandler upped their price target on shares of Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $293.53.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.